Article ID Journal Published Year Pages File Type
5059309 Economics Letters 2014 4 Pages PDF
Abstract
This article proposes a nonlinear scoring rule which transforms multiple attributes of a bid into comparable dimensionless ones. Practically, the buyer can use it to select the most competitive winner. For risk-neutral bidders, we characterize a symmetric Bayes-Nash equilibrium and find that as the number of bidders increases the equilibrium quality improves, whereas the equilibrium price decreases.
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Authors
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